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No Mercy No Malice
Get Ready for Airbnb’s IPO to Blow Away Expectations
Some are predicting a $30 billion valuation. Here’s why it could actually be a lot higher.
While the entire professional class, and every elected official, all claim to be optimists, I see the world through gray-colored glasses. Vaccine by fall, herd immunity, a robust recovery, markets will continue to surge, AI …
Yeah, right.
Pessimists are underappreciated, as while optimists built the first plane, pessimists suggested seat belts. Both parties have a role. Neville Chamberlain, Charles Keating, and Bobbi Brown were all likely optimists. But I digress.
So, being angry and depressed doesn’t mean I’m wrong. There are good companies that are overvalued (Tesla, Snowflake), good businesses whose emissions are bad for society (Facebook, Twitter), and firms that are just a menace (Uber). There are also firms that are all three (Palantir). However, occasionally there is a firm that is so gangster even I can’t help but see the glass as half empty, vs. empty. The most valuable private firm in America is Airbnb.
I believe this time next year, Airbnb will be the most valuable hospitality firm in the world and one of the world’s 10 strongest brands…
